naming your business. choose and register your business name

Naming Your Business

Choose and Register Your Business Name

• Naming your business is an important __________ exercise, but if you choose to name your business as anything other than your own personal name then you’ll need to _________ it with the appropriate authorities.

• This process is known as registering your “Doing Business As” (DBA) name.

1. What are important factors to consider when naming a business?

2. What are some problems you might encounter when choosing a name for a business?

3. What is the procedure for filingfor a business name?

Factors to Consider How will the name look? Visual appearance/representation

Name + logo What connotations does it invoke? Is it unique? How will it adapt to social media? Public etiquette; image; style; persona; meaning;

interpretation/translation; abbreviations; spelling; competitor’s names

Naming your business involves business strategy and legal decisions

Problems

• Is the name available?• Name already taken• Options• Name confused with other businesses.• Others don’t “get it”

Filing for a DBA

• File in the State and County that you will be based in.– Niagara, Erie, etc.

• http://www.niagaracounty.com/Departments/CountyClerk.aspx

• http://www2.erie.gov/clerk/index.php?q=filing-business-certificates

• Proper forms• Fees• Trademark

Name Availability

• http://www.dos.ny.gov/corps/faq_availability.page.asp

Business Plan

1. ____________________2. ____________________3. ____________________4. ____________________5. ____________________6. ____________________7. ____________________8. ____________________

Business Plan Format A complete business plan is very lengthy and takes months

and sometimes years to prepare. It is necessary paperwork!! Your future investment/funding depends on it. It reflects that you are serious about your business and are

taking all present and future factors into consideration. To be revisited periodically – changed – updated.

Templates– Word or Publisher– On-line– www.SBA.gov

You will be preparing a sample BUSINESS PLAN for your new

business concept.

For additional resources visit:

Business Plan Template

BUSINESS PLAN

Company name

Business plan

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Background information

Summary

Company Description

Product / Service

The Market

Strategy and Implementation

Management Team

Financial Analysis

BUSINESS PLANContent

BUSINESS PLANPersonal Information

•Name(s) of owner(s)•Address•Telephone•E-mail•Date of birth•Education•Job experiences•Special Qualifications•Other relevant information

Personal information

•Name(s) of owner(s)•Address•Telephone•E-mail•Date of birth•Education•Job experiences•Special Qualifications•Other relevant information

Personal information

This gives the viewer a feeling of who you are. This first impression will affect the viewer throughout the presentation.

Values and Visions

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Missions and Goals

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BUSINESS PLANPersonal Information

BUSINESS PLANSummary

Who are weGo ahead and replace it with your own text. This is an example text. Go ahead and replace it with your own text

What do we produce/offer?Go ahead and replace it with your own text. This is an example text. Go ahead and replace it with your own text

Wich and how many customers?Go ahead and replace it with your own text. This is an example text. Go ahead and replace it with your own text

First year turnoverGo ahead and replace it with your own text. This is an example text. Go ahead and replace it with your own text

Funding needs?Go ahead and replace it with your own text. This is an example text. Go ahead and replace it with your own text

First year profit?Go ahead and replace it with your own text. This is an example text. Go ahead and replace it with your own text

Briefly describe the business and highlight its purpose. It must contain the most important information from the business plan.Write the summary last, but place it in the beginning of the plan

BUSINESS PLANSummary

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Objectives

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Mission

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Success Factors

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Business Planhighlights

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BUSINESS PLANHighlights

BUSINESS PLANCompany Description

Start-up Plan / Company History

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Ownership

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Facilities and Location(s)

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BUSINESS PLANProduct / Service

Products / Lines / Services offered:

•1•2•3•4•5

Differences in products / Lines / Services compared to competitors

•1•2•3•4•5

Purchase frequency/product life span

•1•2•3•4•5

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BUSINESS PLANProduct / Service

Product / Service

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Market Trends

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Market Growth

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Industry Analysis

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Main Competitors

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Market

BUSINESS PLANThe Market

The typical private customer

Gender:Age:Education:Occupation:Lifestyle/culture:

BUSINESS PLANThe Market

The typical business customer

Line of business:Size/staff:Age:

Geographical factors / limits

Domestic:International:Physical or online?

Assumed number of customers

Arguments and supportive facts:

Average amount spend per customer?

One or more items?

BUSINESS PLANThe Market

Important competitiors

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Competitive parameters on the market

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Assesment of posibilities on the market

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BUSINESS PLANThe Market

Industry Participants•This is an example text. Go ahead an replace it with your own text. This is an example text.•This is an example text. Go ahead an replace it with your own text. This is an example text.

Distribution Patterns•This is an example text. Go ahead an replace it with your own text. This is an example text.•This is an example text. Go ahead an replace it with your own text. This is an example text.

Market Needs•This is an example text. Go ahead an replace it with your own text. This is an example text.•This is an example text. Go ahead an replace it with your own text. This is an example text.

Buying Patterns•This is an example text. Go ahead an replace it with your own text. This is an example text.•This is an example text. Go ahead an replace it with your own text. This is an example text

Market Segmentation•This is an example text. Go ahead an replace it with your own text. This is an example text.•This is an example text. Go ahead an replace it with your own text. This is an example text

BUSINESS PLANThe Market

Market

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Management responsibilities

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BUSINESS PLANStrategy and Implementation

Business Plan

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BUSINESS PLANStrategy and Implementation

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BUSINESS PLANStrategy and Implementation

2010 2011 2012 2013 2014 2015 2016

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BUSINESS PLANStrategy and Implementation

Step 1 Step 2 Step 3 Step 4 Step 5 Step 6

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BUSINESS PLANMarketing Plan

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BUSINESS PLANBudget

BUSINESS PLANManagement Team

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BUSINESS PLANManagement Team

Total Funding Needs

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Initial Capital•This is an example text. Go ahead an replace it with your own text. This is an example text.

Investment•This is an example text. Go ahead an replace it with your own text. This is an example text.

Loan•This is an example text. Go ahead an replace it with your own text. This is an example text.

BUSINESS PLANFinancial Analysis

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Budget

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BUSINESS PLANFinancial Analysis

Notes and Tips…

Your company logo, name and slogan should appear repeatedly on all company materials.

The same overall style and format should be consistently used.

All company information should be publicly acceptable and reflect professionalism.

Never pass up the opportunity tomake a good impression.

Remember first and last impressions are important.